Liquid bulk truckers make moves

Thursday, December 27, 2012

Gladstone Capital Corp. has invested $14 million in Indiana-based Ag Trucking, a food-grade liquid and dry bulk carrier.
The regional carrier has five terminals in the Midwest and Southeast. The investment, a combination of debt and equity, was sponsored by 3.5.7.11 Investments.
"Ag
Trucking is a leader in the bulk transportation industry, serving a
niche market with a reputation for superior quality for over 30 years. We look forward to working with Gladstone Capital, a world-class
business development firm, again in the future, as we pursue our
strategy of acquiring small to medium-size companies with excellent
management teams and significant market share in important niche
areas," 3.5.7.11's Dale LeFebvre said in a statement.
In addition, Texas-based oilfield services company Globe Energy Services has acquired Paul Musslewhite Trucking Co., a firm with more than 700 fluid-service trucks, for an undisclosed amount. Musslewhite operates in the Permian Basin. When the deal closes, Musslewhite will begin operations under the Globe Energy name.
Musslewhite’s Chief Executive Officer Richard Ellis will join Globe’s senior management.
“This transaction offers undeniable benefits for our collective customers,” Globe President and CEO Troy Botts Jr. said in a statement. “We will have near complete coverage of the Permian Basin and a network that will help us improve the responsiveness and efficiency of service delivery. - Jon Ross